Tuesday, December 04, 2012

Links Dec 4

Buried treasure and tax havens
economia
Nov
29 - The article asks, "are the world’s great powers losing the war on tax havens?"

Fighting inequality to ‘bend the arc’ of history Uncounted
Nov 1 - Alex Cobham presents a guest blog from Otaviano Canuto,
World Bank Vice President and Head of the Poverty Reduction and
Economic Management (PREM) Network. Cites Save the Children’s report, Born Equal
- the report highlights progressive taxation and social protection
mechanisms as having a particular role to play, and the importance of
global efforts to tackle illicit financial flows.

Swiss rich just keep on getting richer swissinfo
Nov
30 - "While the list contains many “home grown” multi-millionaires and
billionaires, the attractive tax regime in many Swiss cantons has
attracted people who made their fortunes overseas."Swiss President Stands Firm On German Tax Deal Tax-News
Dec 4 - "Swiss President Eveline Widmer-Schlumpf has recently insisted that there is simply
no scope for further improvements to be made to the bilateral Swiss-German tax
deal, despite the German parliament’s rejection of the treaty on November
23."

Jersey Fostering Stronger Ties With Gulf Investors Tax-News
Dec
4 - Reporting on the "Jersey Advisory Group
(JAG), formed by the government to engage senior private
sector individuals ... Jersey
established a similar JAG in China in October, and intends to hold JAG
meetings in India, China, and the Gulf region on a regular basis to
support the territory's efforts to break into these key markets."

Spain tax amnesty deal far from government target Reuters
Dec 3 - "The amnesty, criticised for
pardoning tax evaders with a reduced rate while the government increased
income and service taxes on most taxpayers, brought in just 1.2 billion
euros."

The Phantom Accounts Organized Crime and Corruption Reporting Project
Nov
20 - A story of laundering US$680 million a year through a Latvian bank
account registered to a New Zealand shell company. "Tracing the
transactions took reporters to Chisinau, Moscow, Kiev, Riga,
Bucharest, London and Auckland, cities that have become hubs in a huge
network of banks, proxies, financial consultants and offshore companies
that launder money and hide stolen assets."

Europe takes on tech giants and their tax havens Bloomberg Businessweek
Dec 3 - "A storm is brewing in Europe as nations try to force Internet powerhouses like Google and Amazon to pay more in taxes."

See also: VAT loophole on digital sales 'costs UK more than Olympics' Guardian
Dec
3 - The piece reports on the drive for a pan-European response to the
imbalance between sales revenue generated
in a particular economy and the taxation generated for the host country,
with Philippe Marini, chairman of the French senate's finance
committee, as a leading proponent.See also:Retailers in VAT dodge by shipping goods abroad and then back into UK This is Money
Dec
2 - After a Channel Islands loophole was closed, many firms are now
sending goods to other places including the US, Switzerland and Gibraltar and
then back into Britain – a process known as circular shipping – to avoid
paying tax.Tax and corporations: one law for them Guardian
Dec
3 - "With another tranche of welfare cuts about to pick poor pockets,
such indulgence of big business empires cannot be sustained. If the
Treasury cannot grasp that, it will have to reckon with the wrath of
voters who have already got the point."

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The Tax Justice Network (TJN) is an international, non-aligned network of researchers and activists with a shared concern about the harmful impacts of tax avoidance, tax competition and tax havens.
www.taxjustice.net